One of the biggest worries for people right now is unemployment. We need change to get Britain working.
Thanks to Gordon Brown’s economic mismanagement, unemployment is rocketing in Britain.
Labour’s Debt Crisis means we are facing a long recession – and Brown’s attempts to deal with the downturn are simply not working:
- The bank recapitalisation has not got credit flowing again
- The VAT cut has failed to stimulate the economy
- The Government’s business strategy has not stopped businesses from closing
It is vital we provide support and assistance for those affected by the economic downturn. The key priorities must be:
- Finding ways to ease the pressures on businesses
- Dealing more effectively with unemployment, with practical support and advice for those who lose their jobs
- Direct help for families, pensioners and other groups hit hard by the recession
We can’t, as an opposition party, implement major policy changes that will help things immediately. But we can put forward proposals that we believe will help get Britain working again – in both the short- and long-term.
And we can also offer practical help and advice for those who have been hit by the economic downturn.
Find out how to set up a Job Club in your area
Easing the pressure on businesses:
- A National Loan Guarantee Scheme with up to £50bn of guarantees for new lending to businesses of all sizes.
- A £10bn scheme to allow small and medium-sized enterprises with cash flow difficulties to defer their VAT bills, for up to six months. For a typical business with a VAT bill of £350,000, this could involve £90,000, the difference between survival and failure.
- Cutting corporation tax. We are committed to cutting the basic rate of corporation tax, reversing Labour’s tax hike. This would be paid for by scrapping Labour’s complex corporation tax reliefs
- Cutting payroll taxes (National Insurance) by one pence for six months for the smallest employers (those with fewer than five employees), to help them save money and so keep jobs.
- A £3 billion programme of incentives to employers who take on someone who has been unemployed for more than three months
- A major expansion of training with financial help for smaller firms
- A removal of restrictions on activities while on benefits